BENTONVILLE (KFSM) — Walmart.com continues to ring up large losses, which insiders project will be $1 billion this fiscal year.
Though Walmart does not break out its online sales, the retailer has said it is taking longer than planned for the division to be profitable even with the billions already invested.
The Bentonville-based behemoth is betting big on Walmart online grocery to help level the playing field against Amazon. The company is aggressively rolling out the online grocery pickup services to more than 3,600 stores this year.
The service is available in 3,100 of the retailer’s 4,500 U.S. stores and home delivery is possible from 1,600 store locations.
Walmart CEO Doug McMillon told attendees at Fortune’s Brainstorm Tech conference earlier this week that Walmart stores are the answer to Amazon when it comes to groceries.
“One of the realities of fresh and perishable food is if you don’t sell it, you throw it away or give it away,” McMillon said during his Fortune interview that was streamed online.
“When you have a store environment and you have fresh or perishable food so close to people, those stores then become dual store and pick centers.”
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